Sunday, February 1, 2009
Stimulus: Senate's Housing Hopes
Posted by: Liwin Troy Lee
Written by: Jeanne Sahadi
Lower mortgage rates, a foreclosure moratorium and more attractive tax credits to spur home buying are among the contenders for amendments to recovery bill.
NEW YORK (CNNMoney.com) -- As the economic stimulus package moves to the Senate, the drumbeat is growing louder for new provisions that directly address the housing crisis.
Key senators from both parties said they will push for measures intended to spur sales and help homeowners at risk of foreclosure.
"We need to go right at the housing problem. That's what started all of this," Senate minority leader Mitch McConnell, R-Ky., told CNN.
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